US workers’ sense of financial security slips to 2024 levels, says BofA — why so many are losing confidence

Core Insights - U.S. workers are increasingly worried about their financial health, with only 47% of full-time workers feeling economically secure, a decline from 52% at the beginning of 2025 [1] Group 1: Financial Concerns - Nearly half of respondents (45%) have no emergency savings, and 85% carry some form of personal debt, including credit card debt [2] - 33% of respondents lack confidence in their retirement preparedness [2] Group 2: Economic Indicators - The U.S. annual inflation rate was steady at 2.7% in July 2025, above the Federal Reserve's 2% target but significantly lower than the double-digit inflation of the early 1980s [5][4] - The Consumer Price Index rose by just 0.2% from the previous month [5] - Gas prices averaged $3.20 per gallon in September, a slight increase from the previous month but marginally lower than the average a year ago [6] Group 3: Debt Levels - Household debt reached an all-time high of $18.2 trillion this year, with 45% of Americans carrying credit card debt [7]